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[October 29, 2013
Dear Senate Majority Leader Reid,
I am writing to convey my objection to floor consideration of the nomination of Dr. Janet Yellen to Chair the Board of Governors of the Federal Reserve without also considering legislation to bring much-needed transparency to the Fed.
As the Senate debates the nomination of the next head of the Federal Reserve, there is no more appropriate time to provide Congress with additional oversight and scrutiny of the actions and decisions of the central bank. Therefore, I request that my bipartisan legislation, S. 209, the Federal Reserve Transparency Act, be scheduled for an up or down vote concurrently with the Yellen nomination. Similar legislation passed 327-98, with bipartisan support, in the House of Representatives on July 25, 2012. This same bill has been stalled in the Senate for nearly three years.
Accordingly, I will object to any unanimous consent agreement or the waiver of any rule with respect to the nomination of Dr. Yellen without a vote on S. 209. I know you have been a supporter of similar legislation in the past, and I hope that we can work together to pass this important legislation.
Rand Paul, M.D.]
reply to post by eLPresidente
Can he do that? if so, WTF did he not do it a million years ago..before the Dinosaurs rather then now. It's a good idea, or rather common sense, should been done properly with close scrutiny every fart's end, but the timing is bad.
Save your energy...
There is nothing left to audit.
reply to post by eLPresidente
Even if we get our audit...
What makes you think these people will remember anything.
I fully support the audit and Rand.
I just don't think it will ever happen. It would be more lies.
can any one clarify if this makes any kind of sense because if it does im not seeing it..... comments in the article are gold btw number #3(down from top) especially it seems this author thinks women only understand pop culture references and seems to have a great lack of confidence of her genders overall intelligence level.
For us laywomen who can't distinguish supply from demand curves (but only understand and aspire to Project Runway model Heidi Klum's curves and assets), how does the Federal Reserve create better economic performance? The Federal Reserve Act says that Fed has a mandate to maintain price stability (low inflation) and maximum sustainable employment (keeping unemployment rate near its long-run equilibrium rate around 5.5%). Price stability means it's easier to save for the retirement years past menopause or finance new companies to better balance work and families if inflation rates are low and stable. Those are favorable macroeconomic conditions to create jobs for women who want to be working. The Federal Reserve Transparency Act that Rand Paul introduced is a misleading misnomer. When people say make the Fed transparent, what they mean in the business world is check the books: make sure the balance sheet and income statements are right. The Fed really is audited normally, because its data is publicly available on its website. In reality, the bill is designed to limit the independence of the Federal Reserve. It's also designed to derail the nomination of a female rock star in her own right, Yale-educated economist Janet Yellen.